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Job Description
‘Compliance Officer’ (CO) works in the ‘Compliance Control Department’ (CCD) under the supervision of the ‘Senior Compliance Officer’ (SCO) but with a reasonable independence to meet the departmental objectives and tasks by working on their own within agreed/defines timelines. CO assists the SCO in monitoring and reporting non-compliant activities within the BSF Business Lines/Support Divisions. This role also assists the SCO in the development and implementation of the annual compliance plan activities related to the department successfully by liaising with the other departments of the bank.
Key accountabilities:
- Assist the SCO in providing consultation to the Business Lines on regulatory matters by extracting relevant information from the regulatory documents or as advised.
- Escalate any regulatory risks arising from the BL/SD’s activities to the SCO in a timely manner for further guidance.
- Support the SCO in employee trading activities (investment accounts) to combat ‘Insider Trading’ and help in implementing surveillance risk controls.
- Assist SCO to keep the compliance manual always up to date as per the SAMA regulations and present it as a reference documents for the BSF employees.
- Provide information/documents as requested to the SCO in compiling the ‘Compliance Control Plan’ of the department to monitor the regulatory related activities through assessments.
- Reporting to SCO any lapses in the activities related to regulations noted during assessments.
- Assist the SCO in preparing compliance reports for the senior management and the CCO and take appropriate actions if required under the guidance of the SCO to avoid regulatory breaches.
- Prepare outgoing departmental communications for the new or amended regulatory rules under the guidance of the SCO.
- Assist the SCO in making training material/presentations for the BL’s on SAMA’s regulatory requirements.
- Keep an up to date file with all the latest SAMA, CMA etc. circulars for any future referencing.
- Assist in enforcing regulatory rules across the bank.
Skills
Qualifications and experience:
- University Graduate or substantial experience within Compliance/Fraud Management/Risk/AML/Audit controlling sections in the banking sector.
- 5-7 years of working experience in the banking sector
- 3-5 years within Compliance/Fraud Management/Risk/AML/Audit or in a control function of the bank
Knowledge and skills:
- Good understanding of the Retail, Private, Corporate and Investment banking products/services.
- Good investigative and analytical skills
- Some experience of writing or helping in preparing departmental documents as per the local regulations and group policies.
- Good analytical skills to interpret the regulations/banking laws of the Kingdom.
- Basic understanding of all the other compliance fields (AML/CTF, KYC, Fraud etc.)
- Sound experience of meeting tight deadlines and working under pressure.
- Good computer/Email skills (Microsoft word etc.)
Job Details
Preferred Candidate
